Bitcoin tests $80,000 as Asia’s bid fades and Hong Kong AI IPOs surge

Western desks are carrying the bitcoin rally alone, with Friday’s jobs report the next test. What to know : Bitcoin is repeatedly stalling just below $80,000. Onchain data shows the short-term holder realized price around $80,700 acting as near-term resistance. Asian trading hours have been a persistent drag on bitcoin returns as Hong Kong’s spot bitcoin ETFs sit largely dormant while regional capital rotates into a booming local IPO market focused on mainland China AI and technology listings. With Asian participation muted and U.S. spot bitcoin ETFs seeing outflows and weaker buying pressure, bitcoin’s recent rally appears to be losing momentum, leaving $80,000 as the top of a trading range ahead of Friday’s U.S. payrolls report.